Mahathir’s twisted logic on forex losses

One of the things that I detest Mahathir is that he uses very twisted logic to take advantage of people’s lack of knowledge to lie to them.

He does this a lot. He somehow is so thick-faced and knows no shame.

Another lie he told today was that Najib lost US$39.6 billion in Forex reserves between 2013 and 2015 when Bank Negara (BNM) had used that amount to stabilize our exchange rates from falling too fast when our Ringgit weakened.

Mahathir said this US$39.6 billion is far more than the amount he lost in the BNM Forex scandal that he says the govt is trying to get him for.

Well then, how does Mahathir explain the loss of US$800 billion in reserves that China suffered over the past 3 years while doing the same as Malaysia?

Well, there is a big difference between losses incurred in normal sport buying and selling of forex reserves with illegal trading and speculation along with deceiving cabinet, deceiving parliament and hiding the losses which Mahathir and Anwar Ibrahim was alleged to have done – a possible criminal breach of trust (CBT).

Unlike Mahathir, Najib did not cause BNM to go technically bankrupt nor had to force BNM to sell off MAS and their shares in Telekom, Tenaga and other companies in a bid to help cover the BNM losses.

And unlike Mahathir, the BNM did not risk speculative trading positions that are equivalent to 3 times our GDP and 5 times our reserves at that time. So great was the risk taken that it could have bankrupted Malaysia 3 times over!

Who can blame anyone for suspecting that such incredible risk was taken because there could be wrong-doing or even theft – especially since you then tried so extensively to cover it up? But this is for the police to investigate.

Unfortunately, zombies do not seem to understand the key difference of legitimate use of FOREX reserves with what BNM under Mahahtir and Anwar was doing at that time and the illegal cover-up involved.

That is why Mahathir continues to lie using stupid comparisons like this because zombies are stupid.